• Adam Goldberg 2014

    “Lightspeed is a really unique opportunity for people who want uninterrupted time to work on a project for a summer. You can spend all your time hacking away, but I really liked how John and the rest of the team really help you balance your time best between writing code, selling, and everything else. It was a truly invaluable experience and I encourage everyone to do it.”

    Adam Goldberg

    Stanford
  • Kerem Alper 2012

    “The Lightspeed Program allowed us to spend an entire summer on our project that we wouldn't be able to otherwise bring to life. Our Lightspeed mentor, John, met with us whenever we needed him and guided us through the various stages of building our startup.”

    Kerem Alper

    Stanford
  • Deepak Rao 2010

    “The Lightspeed program demystified Silicon Valley for me. Being an outsider, it gave me a chance to witness the valley’s entrepreneurship culture first hand. It was a truly life-changing experience and my primary reason for starting a company after school.”

    Deepak Rao

    Stanford
  • Jason Gurwin 2010

    “Lightspeed's summer program was an incredible experience. Being an east coast team, it gave us the chance to get a great feel for startup life in the Valley, prove out our model, and build a beta version of our iPhone app. Most importantly though, I learned more from doing the program than any summer internship I ever had.”

    Jason Gurwin

    University of Pennsylvania
  • Jack Reidy 2013

    “The Summer Fellowship program has proven invaluable as I've grown as an entrepreneur.  The lessons I learned at Lightspeed are relevant every day.”

    Jack Reidy

    Stanford
  • Abi Raja 2013

    “The mentorship is amazing, having an office space shared by other people going through the same process is very inspiring and the limits of a summer force you to focus on the important things. Highly recommend it.”

    Abi Raja

    Stanford
  • summer fellowship
  • Peter Michailidis 2010

    “The Lightspeed ventures summer fellowship allowed us to focus on our idea without the distractions of finding office space and the financial worries of starting our venture. We gained lifelong friends, and partners through the program not to mention mentorship from successful venture capitalists and veteran entrepreneurs. I would strongly recommend anyone to apply.”

    Peter Michailidis

    Ohio State
  • Eli Hart 2013

    “Being able to speak individually and have private discussions with our mentor, John, are incredibly valuable. He teaches us how to approach individualism. If you want to work for yourself instead of other people, this is the best way to do that.”

    Eli Hart

    Stanford
  • William Zhou 2013

    “The Lightspeed Summer Fellowship not only provided valuable mentorship and actionable advice, but it also gave me insight into the VC world.”

    William Zhou

    University of Waterloo
  • Aaron Konigsberg 2013

    “The best part of the program was the freedom we had to do whatever we needed to do to grow as a team and to grow as an individual and making connections with people in the industry.  It is a unique opportunity.”

    Aaron Konigsberg

    Stanford
  • Jeffrey Morgan 2014

    “What an amazing summer. The incredible partners at LSVP and the lunch seminar speakers helped us overcome difficult decisions, understand how to position our company and create a product people love. It was a life-changing summer that undoubtedly shaped my career as a founder. I couldn't recommend this program more.”

    Jeffrey Morgan

    University of Waterloo
  • Eddie Segel 2011

    “I spent the summer deeply focused on product development. Lightspeed made this possible through their resources, trust, and mentorship. Without this experience, I absolutely could not be building the company I am today.”

    Eddie Segel

    Stanford

Welcome

Are you an aspiring entrepreneur looking for the resources, guidance, and connections to get your venture off the ground? Lightspeed Venture Partners is offering summer fellowships to support entrepreneurship and innovation among highly motivated engineering and CS students.

Each selected team will receive $5,000 per team and $10,000 per team member, mentoring by one of Lightspeed’s investment professionals, as well as office space in Menlo Park, CA throughout the summer. Lightspeed also conducts a Venture Series “course” throughout the summer with the explicit goal of providing young founders practical knowledge on topics such as Hiring and Compensation, Venture Capital Economics, Pitching Investors, Initial Selling Strategies, and Career Advice. And finally, all Fellows are invited to join well known young founders and executives each Monday for lunch to learn about their startup experiences.

Think of it like a scholarship. We provide resources, mentors, and guidance; you pursue your venture free and unfettered. Fellows are under no obligation to Lightspeed, and Lightspeed receives no equity as part of the program.

We will begin accepting Applications for Round 1 December 1st, 2014. Round 1 will close January 15th, 2015 and decisions will be announced no later than February 1st, 2015.

Applications for Round two will open January 16th, 2015. Round 2 will close March 15th, 2015 and decisions will be announced no later than April 2nd, 2015.

We have instituted a rolling application process this year and hope to select over 50% of our teams from applications submitted before January 15th. We encourage you to apply early to maximize your potential of participating in our 2015 class.

2015 will be our 9th year running the program, with an alumni class of over 200 fellows. We invite all alumni back during the summer to provide mentorship.

Check out some of the companies our alumni have gone on to start:

  • code hs
  • crittercism
  • drive pulse
  • inDinero
  • lark
  • piCloud
  • pinterest
  • pulse
  • push technologies
  • pushpins
  • PeerCDN
  • sourcegraph
  • wifi slam
  • vdopia
  • vigLink

Testimonials

We think that the Summer Fellowship Program is pretty cool, but don’t take our word for it. Here’s what previous fellows had to say about their experience:

  • What an amazing summer. The incredible partners at LSVP and the lunch seminar speakers helped us overcome difficult decisions, understand how to position our company and create a product people love. It was a life-changing summer that undoubtedly shaped my career as a founder. I couldn't recommend this program more.

    Jeffrey Morgan
  • Lightspeed was an awesome experience. I got to work on my own startup full-time, got top tier mentorship, talks from fabulous speakers, and even a space to do it in! My understanding on what it actually means to build a startup is at a whole other level and I probably couldn't be better prepared for it than I am after Lightspeed.

    Jorge Pozas
  • I loved that the Summer Fellowship leveraged my team's company and growth as a platform to teach us about entrepreneurship. Thanks to John and our mentors at Lightspeed, I came in naïve with just a technical background, and I left a much more informed entrepreneur.

    Derrick Dominic
  • Lightspeed provided the perfect balance of freedom and structure. It gave us the space to run with our ideas so that we could launch our private beta this summer; we also received tremendous support from John and the LSVP team on strategic and tactical matters. John's advice is always incredibly thoughtful and it will guide us well past our experiences this summer.

    Esther Pun
  • John and Jeremy's invaluable mentorship helped us grow from being hackers to entrepreneurs. The gap between the two is large, and that transition is something that would have been much harder to navigate were it not for the summer program. This reason, along with the many other benefits of the program, and the fact that John and Jeremy are truly good people who care about your success, is why I cannot recommend Lightspeed highly enough.

    Rahul Gupta-Iwasaki
  • Lightspeed is a really unique opportunity for people who want uninterrupted time to work on a project for a summer. You can spend all your time hacking away, but I really liked how John and the rest of the team really help you balance your time best between writing code, selling, and everything else. It was a truly invaluable experience and I encourage everyone to do it.

    Adam Goldberg
  • My favorite aspect of the Lightspeed Summer program is the emphasis on the complete startup experience beyond engineering. In the midst of developing our product in a great office space, I learned a lot about sales, presentations, and leadership from the Lightspeed team and excellent guest speakers.

    Alex Popof
  • The Lightspeed summer program was a great introduction to entrepreneurship and building startups from the ground up. It is amazing that so much was accomplished in a short summer on Drive Pulse going from an idea to a product. John's excellent mentorship and being around talented entrepreneurs in a structured setting were instrumental in staying focused.

    Poorna Krishnamoorthy
  • What I like best about the program is the fact that Lightspeed didn’t at all hold our hands the entire way. While they still gave us a lot of practical advice and they gave us all the tools that we needed to succeed.

    Patrick Briggs
  • Best part is that there is no equity that we owe.   It is very upfront advice.  The partner is trying to focus on helping us instead of focus on getting our return which seems very honest to me.   All of the help has been really practical.  They are bringing in people who have done this before and people who have been in our exact position in college and that feels really cool to me.

    Matthew Rials
video testimonials
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      What was your favorite part of the Summer Fellowship experience?

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      Who is the Summer fellowship a good fit for?

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      Highlights from Billy Bosworth CEO, Datastax presentation to the fellows.

No Obligation, No Equity

Lightspeed is in the business of fostering entrepreneurship. We launched the Summer Fellows program in 2006 to provide students the platform they need to dedicate 100% of their time to their startup ideas. We don’t ask for equity or a right to invest; this isn’t an incubator or a formal seed program. Instead, for us it’s a privilege simply to work with such bright, energetic people at this stage in their careers. The whole team at Lightspeed is involved, we’re always tinkering to improve the format, and we look forward to expanding the program and building more relationships in years to come.

John Vrionis Partner - Lightspeed Venture Partners
john-vrionis

The Post-doc of Summer Startup Grants

As current venture capitalists, we enjoy collaborating with young entrepreneurs and guiding them to success. That’s why we created the Summer Fellowship, now in its 9th year: to mentor talented entrepreneurs like yourself, provide an opportunity to pursue your venture idea with 100% commitment and fully experience the entrepreneurial life.

Our goal is to give you the best possible chance for success: that includes office space, financial resources, connections, and guidance from experienced professionals. What you do with the opportunity is up to you. Our only requirement is that you dedicate 10 weeks of your summer to working at our office full-time.

So you don’t have to worry about making ends meet or finding a place to work, each team receives $5,000, and each individual fellow receives $10,000 to cover living and business expenses, and all teams are given space in our Lightspeed office complex in Menlo Park, CA.

The Lightspeed family is here to help you succeed. Each team of 1 to 4 fellows is matched with 1 or 2 Lightspeed partners according to their interests. Of course, you should feel free to ask our other investment professionals for advice and guidance on whatever you may need.

Weekly speakers and angel investors are brought in to share their insights and offer further advice about the start-up experience. Many of these speakers have become advisors to teams. In addition, we’re always happy to put you in touch with anyone else who can help.

Networking at Lightspeed

Innovation is all about networking and collaboration, and at its core the Lightspeed Summer Fellowship fosters collaboration. We strive to create an environment in which you can network with the right people to collaborate as effectively as possible. The idea is to provide the connections, guidance and support you need so that you can transition into a professional entrepreneur.

Your team will be paired with 1 or 2 Lightspeed partners who work in your field. Your mentor will meet regularly with you and work as closely with you as the team and project require. The other partners at Lightspeed are also available for additional advice and guidance. Lightspeed professionals are happy to put you in touch with the lawyers, entrepreneurs, CEO’s, and investors they know can help your business grow.

We have ensured that the office space fosters collaboration among the fellows, too. Set up with office equipment, scenic views, common areas, a fully-stocked kitchen, and even a shower, the space receives lavish praise from fellows. We regularly schedule events so that fellows and Lightspeed partners can spend time together outside the office, as well.

Connecting You to the Valley

If you have questions about specific steps in the start-up process, you’ll find our (optional) series of lunch-time seminars particularly helpful. Each week portfolio company executives and functional experts—including attorneys, CFO’s, PR specialists, recruiters, and angel invetors—come to the office to talk about what they do. These talks are designed to mirror the steps in the start-up process so that you make the right connections at the right time. Many of these speakers have gone on to become advisors to teams.

Frequently Asked Questions

  1. What does Lightspeed get out of this?

    Lightspeed gets the opportunity to work closely with outstanding young entrepreneurs. Just as universities and government agencies fund top-notch research, we have the facilities and especially the desire to support entrepreneurship and innovation. The opportunity to mentor and collaborate with students is all the incentive we need. We receive no equity, and teams are under no obligation to Lightspeed.

  2. Must an engineer (CS or EE) be on the team? Does the engineer have to be a student?

    Yes and Yes. Eligible teams must have at least one engineer who was a full-time student in the 2014-2015 academic year. Teams submitting energy-related business ideas may substitute with someone who has the relevant science background.

  3. Define ‘student’.

    The student team member must have been a full-time student at some point in the 2014-2015 academic year. People who graduated at any time in the 2014-2015 academic year ARE eligible.

  4. Are non-students eligible to receive a fellowship?

    Yes. Team members who do NOT have other full-time jobs/commitments are eligible to receive a fellowship, provided they work full-time out of the office space provided.

  5. What about international businesses?

    Yes. Lightspeed has offices in China, India and Israel. We are interested in businesses focusing on international markets. But just to be clear, those team members who win a fellowship must spend 10 weeks working out of the Menlo Park office between June 1 and September 30.

  6. What about non-technical businesses?

    Lightspeed as a firm focuses exclusively on Information Technology businesses in the Consumer and Enterprise sectors. If your business is not in these areas, we will not be able to help you to the degree we would like during the summer. We recommend you consider alternative programs.

  7. Are there any particular areas of interest that you are looking for?

    We are excited about all great technology related business ideas, but there are always special areas that we are working on in any given year. This year we are focused on the following general themes: Cloud Computing, Big Data, Mobile Applications, Social Applications, Sharing Economy, The Internet of Things, and Online Education. We specifically are NOT interested in anything Healthcare or Medically related.

  8. Do all team members have to work full-time? Can we start earlier than June 1st? Can we finish later than Sept 30th?

    All fellows must work 10 weeks full-time between June 1st and September 30; additional team members not receiving fellowships have no such requirement. We are looking for dedicated entrepreneurs who want to devote the summer to working on their idea; we do not want fellows who want to participate in the program AND another internship. As long as fellows work 10 weeks full-time during the summer timeline, they are welcome to start a few weeks early or stay into October; we do not want fellows who want to participate in the program AND another internship. The same goes for anyone who wants to participate in an alternative startup program. We encourage young entrepreneurs to try multiple programs, just not at the same time. We do not allow simultaneous participation in the Lightspeed program and other startup programs such as YC or TechStars.

  9. Can I submit more than one (1) application?

    Yes

  10. Is a team penalized in any way if it has multiple members?

    No. We are looking to work with the highest quality individuals. Teams with multiple members eligible for fellowships are just as interesting (and can actually be more so) as teams with one member.

  11. Do I have to fill out the Lightspeed application or can I submit alternative materials?

    To be eligible to receive the fellowship, the Lightspeed application must be completed.

  12. If my team goes on to raise a round of funding, will Lightspeed participate?

    The LAST thing Lightspeed wants to do is create friction for any entrepreneurs who want to continue to pursue their company after the program. Lightspeed will invest a minimum of $50k in any Summer Fellowship team that continues on with a company and is able to pull together a round of at least $500k from other investors. It’s very important to understand that the Lightspeed investment is completely at the entrepreneur’s option. If you don’t want it, don’t take it. But this way, if any investor ever asks, “Is Lightspeed investing?” the answer is “Yes, if we want them to.”

Any further questions? Ask John Vrionis or Krish Parikh.
Also check out our blogpost: The Lightspeed Summer Fellowship Program Explained

Application Details

Eligibility: Teams of 1 to 4 people may submit proposals as a team. Each team must include at least one student (graduate or undergraduate in Engineering or Computer Science) who was a full-time student in the 2014-2015 academic year. Not all team members must work in the Menlo Park Office full-time for 10-12 weeks during the summer; however, only those members working full-time will be eligible for the fellowship.

In 2014 we received over 250 applications, representing over 100 universities. We accepted 9 teams (32 fellows) and expect to do the same this year.

Current Areas of Interest: We are excited about all great technology related business ideas, but there are always special areas that we are working on in any given year. This year we are focused on the following general themes:

  • Cloud Computing
  • Big Data
  • Mobile Applications
  • Social Applications
  • Sharing Economy
  • The Internet of Things
  • Online Education
APPLICATION:

We are accepting applications for our 2015 class in December.

Preview application
Deadline:

We will begin accepting Applications for Round 1 December 1st, 2014. Round 1 will close January 15th, 2015 and decisions will be announced no later than February 1st, 2015. Applications for Round two will open January 16th, 2015. Round 2 will close March 15th, 2015 and decisions will be announced no later than April 2nd, 2015.

Have any questions? Learn more about the program or check out our FAQ. Any further questions can be directed to John Vrionis at john@lsvp.com or Krish Parikh at krish@lsvp.com.

TERMS

$10,000 / individual + $5,000 / team

NO EQUITY, NO OBLIGATION

  • Perks:

    Close mentoring by 1-2 Lightspeed partners + office space on Sand Hill Rd

  • Free cloud services:

    Amazon web services, Rackspace Hosting & Windows Azure

  • winners selected:

    February 1, 2015
    April 2, 2015
APPLY NOW ROUND 1 DEADLINE:  January 15, 2015 ROUND 2 DEADLINE:  March 15, 2015